REGISTRAR’S POWERS IN TERMS OF SECTION 15B

Friday, June 15, 2012
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As the pace at which funds are finalising and submitting their surplus apportionment schemes to the Registrar of Pensions for approval picks up, many trustees are asking whether the Registrar has the power to reject their schemes simply because he may feel that different schemes would be equitable in the circumstances pertaining to them. The Registrar has reportedly told some trustees that he will not accept as equitable the exclusion of former members from the distribution of residual surplus.

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